Carbon Tax

NEW DELHI: The energy coordination committee headed by Prime Minister Manmohan Singh has suggested imposition of a carbon tax on polluting power stations. The proposal would club India with a select group of countries that tax carbon emissions directly and boost the renewable energy initiative. The initiative could turn Indian power stations more efficient and less polluting; it could push up power tariffs. "A proposal to levy carbon tax on polluting power stations is on the table.

SYDNEY: Australian Prime Minister Tony Abbott has come under fire from the opposition and investors after ordering the government's A$10-billion ($7.45 billion) Clean Energy Finance Corporation (CEFC) to stop investing in wind and solar power. Abbott, who has described wind farms as "visually awful" and made no secret of his desire to axe the CEFC put in place by the previous Labor Party government, argued the funds would be put to better use in less established...

NEW DELHI: India today expressed concern over the decision of European Union to impose carbon tax on airlines, saying the initiative will have implications on the developing countries. A Finance Ministry paper on Climate Change noted that nations, which had imposed the carbon tax, have yet to fulfil their financial commitments to the developing nations to deal with the issue of climate change. Recently, European Union took a "unilateral" decision to levy...

NEW DELHI/PARIS: In a dampener for India, the French government is set to insist that the European Union impose a carbon tax on imports from countries such as India which are supposed to have " low environmental standards" . EU is India's single-largest trading partner, accounting for over 20% of its exports, and New Delhi has said that any such measure would be another form of protectionism, something India has been opposing actively ahead...

Joseph Stiglitz, the Nobel laureate economist, is trying to persuade global warming negotiators that they're marching up a blind alley. He says it's probably too late to achieve anything substantial at the long-awaited United Nations Climate Change Conference in Paris in December, so real progress will have to come afterward. That's not a message the negotiators want to hear, but Stiglitz doesn't care. "I'm saying we ought to be facing reality. We...

WASHINGTON: India is working towards policies and regulations that would encourage non-cash payments to effectively tackle the problem of black money, a top Indian economic adviser has said. "India will be looking to encourage electronic payment as opposed to cash payment. Both because it is desirable, (and) also to tackle the problem of black money and things like that," Chief Economic Adviser Arvind Subramanian said. "So that is very much on the agenda,"...

NEW DELHI: India and 22 other countries have decided to retaliate on European Union's decision to impose carbon tax with a series of measures. This joint declaration made by countries, including Russia , China and the US talks of imposing heavy costs on European airlines and plane manufacturers. The declaration to this effect was unanimously adopted at a meeting of these countries in Moscow earlier this week, which asked the EU and its member states...

NEW DELHI: Worried over the impact of a proposed carbon tax on mining activities by Australia on imports, India today expressed hope that an acceptable solution would be found to resolve the issue. According to media reports, the Australian government plans to impose a 30 per cent tax on big mining companies. It will go into effect in July 2012, and will apply to mining giants such as Rio Tinto and BHP Billiton. "It is a matter of concern for every...

NEW DELHI: The commerce department has begun mobilising opinion on the proposed carbon tax that developed countries, especially the European Union , are looking to impose on imports from advanced developing countries like India and China . The Centre for WTO studies, a research body under the department, has come up with a report on WTO compatibility of border trade measures for environmental protection that...

The economic survey has hinted at higher carbon taxation on petroleum products and coal to gain a footing at the year-end climate change dialogue in Paris. The survey, tabled in Parliament on Friday, highlighted the need and scope for rationalising coal and petroleum prices and making them equivalent to international prices. The government in last budget doubled clean cess on coal to Rs 100 per tonne and raised excise duty on petroleum products...

MELBOURNE: The move of Australian Parliament to repeal the carbon tax in the country is likely to help coal exporting companies in delivering cost effective and high quality fuel to Indian markets , according to Adani Mining, a wholly owned subsidiary of India's Adani Group . The repeal of the carbon tax in Australia on Thursday will lower costs for Indian firms such as Adani and GVK exporting from the country, Adani Mining spokesperson...

The economic survey has hinted at higher carbon taxation on petroleum products and coal to gain a footing at the year-end climate change dialogue in Paris. The survey, tabled in Parliament on Friday, highlighted the need and scope for rationalising coal and petroleum prices and making them equivalent to international prices. The government in last budget doubled clean cess on coal to Rs 100 per tonne and raised excise duty on petroleum products several times...

NEW DELHI: Keen on expanding business, Australian Prime Minister Tony Abott today said an Indian conglomerate is all set to embark on Australia's largest ever coal development to illuminate lives of 100 million Indians. "If all goes to plan, next year, an Indian company will begin Australia's largest ever coal development which will light the lives of 100 million Indians for the next half century," Abott said addressing Indian...

MELBOURNE: Indian conglomerate Adani Mining today welcomed Australia's move to repeal a contested mining profits tax, saying it showed the government's strong commitment towards supporting export opportunities in the resources sector. The repeal of the Minerals Resource Rent Tax (MRRT) or mining tax this week underlines the cost-effectiveness of the Carmichael mine, according to Adani's official statement here. Adani said that it was pleased to invest in ...

MELBOURNE: The move of Australian Parliament to repeal the carbon tax in the country is likely to help coal exporting companies in delivering cost effective and high quality fuel to Indian markets , according to Adani Mining, a wholly owned subsidiary of India's Adani Group . The repeal of the carbon tax in Australia on Thursday will lower costs for Indian firms such as Adani and GVK exporting from the country, Adani Mining spokesperson told...

NEW DELHI: India, along with countries like China, Russia and the US, scored a diplomatic victory in the aviation sector. The UN body in charge of civil aviation, International Civil Aviation Organisation (ICAO), made it clear that the Europe Union would not be permitted to levy a carbon tax on foreign airlines landing in and taking off from the EU region. At the same time, countries under the umbrella of ICAO agreed to put in place a market-based system...

NEW DELHI: Global aviation bodies today hailed as "historic" an agreement among 191 countries at the International Civil Aviation Organisation (ICAO) to curb carbon emissions, which would lead European Union to abandon plans to impose carbon tax on all flights over its sky. The agreement arrived at the ICAO's 38th General Assembly in Montreal yesterday after two weeks of tense negotiations and months of debate, commits governments to develop global market-based...

By: Vidya S Sharma Why did Julia Gillard lose the confidence of her party and resign as the prime minister of Australia? On many counts, she led a good government from 2010 till the last week of June: it was largely free of corruption, and inflation was well within the Reserve Bank of Australia's target range of 2-3%. Also, Australia did well compared with the battered Western countries. Since the 2008 financial crisis, in contrast to the US...